Banksʼ corporate, retail lending up in August

MTI – Econews

Wednesday, October 3, 2018, 12:27

The corporate lending stock of Hungarian banks rose in August from the previous month, lifted by outlays as well as revaluations, fresh data from the National Bank of Hungary (MNB) show. Banksʼ retail lending stock also rose in August, while the value of home loan contracts was up 27.1% year-on-year.

The corporate lending stock of banks rose HUF 133 bln in August, to HUF 7,307.5 bln. Net lending boosted the stock by HUF 80.2 bln, while revaluations and other changes, such as write-downs, raised it by HUF 52.8 bln.

Meanwhile, Hungarian banks signed contracts for HUF 81.1 bln of home loans in August, 27.1% more than in the same month a year earlier, albeit 2.2% less than in July, the MNB revealed.

Outlays in August were 24.5% over the average monthly outlays in the previous twelve months. The average annual percentage rate on home loans, weighted for credit size, stood at 4.97% in August, up from 4.69% in July, and 4.65% in August 2017.

The euro strengthened by 1.6% to the forint between the end of July and the end of August, calculating with the central bankʼs daily fixing.

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